K&P Law Firm - International Law Firm in Incheon, South Korea

Q : The standard for determining whether the public policy of the enforcing country would be violated by the recognition and enforcement of arbitral awards in light of  Article 5.2 (b) of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards  (New York Convention), which provides grounds for refusal of recognition and enforcement of foreign arbitral awards A :  Article 5 of the New York Convention limits the grounds to refuse enforcement of arbitral awards. Article 5.2 (b) provides that a court of law in the country where the recognition and enforcement  is  sought may refuse if either the recognition or the enforcement of the award would be contrary to public policy of that country. A refusal is not contrary to public policy if the recognition and enforcement of a foreign arbitral award  does  not  effect  the fundamental moral norms and social order of the enforcing country is preserved. In determining whether public policy is violated, a court of law shou

Provisional Seizure, Seizure and Collection Order in South Korea Q : Can a person who became an assignee of a claim after a provisional seizure order against the claim had been served on the garnishee file a suit for performance of the claim against the garnishee ? A : Yes Because the provisional seizure against claims generally prevents only the collection by the provisional seizure obligor from the garnishee, the provisional seizure obligor can file a suit for the performance against the garnishee and the court cannot reject such claim because of the provisional seizure; the assignment of claims refers to a contract to assign the claims from the former creditor, the assignor, to the new creditor, the assignee, while maintaining the identity of the claims; a claim is assigned from the assignor to the assignee without losing its identity; the claims subject to the provisional seizure can be assigned without being subject to any restrictions; provided, that the assignee of the cla